Friday, December 9, 2016

Strong Support for Housing Opportunity Bond at the Polls

Rhode Island
voters overwhelmingly approved the $50 million dollar Housing Opportunity bond on
Election Day. The measure had been placed on the ballot by Governor Raimondo
and the legislature.

“We’re thrilled
that Rhode Islanders have passed the Housing Opportunity bond, which will
create jobs and strengthen our economy,” said Barbara Fields, Executive
Director of Rhode Island Housing. “These much-needed investments will bring us
one step closer to our goal of revitalizing communities, creating homes for
families, and ensuring that everyone in Rhode Island has access to housing that
is within their financial reach.”

$40 million of the Bond proceeds will leverage an additional $160 million
in federal and private investment to help produce housing. The remaining $10 million will be used to return blighted and foreclosed
properties to productive use. This will improve public safety, increase
property values and spark revitalization in neighborhoods and communities
across Rhode Island. The Housing Opportunity bond will create 1,700 good paying
jobs for Rhode Islanders.

The bond will
make an important contribution in addressing the serious shortage of housing that
Rhode Island currently faces.